Yesterday, I said that while the market was probing all-time highs it wasn't able to close at those levels. I also said I wasn't sure if the market was ready to do such, but that I did expect it to happen at some point. Today, the market left little doubt where it wants to go as the bulls ran rampant over the bears.
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The charts sure look like they are breaking out the upside again. The DWCPF wasted no time getting overbought once more. We know what happened the last time it got overbought. It stayed that way for about 5 weeks (not saying we are about to see a repeat of sorts, but hey, you never know). Momentum is moving higher on both charts now.
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Cumulative breadth moved higher, of course and remains bullish.
The big news is that NAAIM, which was already moderately bullish, got more bullish. What's not to like if you're a bull?
I have moved from neutral to bullish today.
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Or you can now use TapaTalk again!Bears Trampled Again - Posted by Coolhand
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